The Build to Rent Alliance has announced a new code of practice for the sector.
The organisation, formed last year between the Association for Rental Living (ARL) and Real Estate:UK (RE:UK) says the aim is to provide communities with a clear, verifiable standard of accommodation, amenity provision and lifestyle experience significantly above the statutory minimum.
This will ensure that those living within the build-to-rent (BtR) sector are living in rigorously accountable homes and communities.
For operators, investors, regulators and key stakeholders, the code will ensure that they each have confidence in the sector’s ability to deliver high standards, self-regulate and hold itself to account in an effective, transparent and self-improving manner.
From an operational perspective, the code establishes a voluntary framework that enables operators, owners, and residents to engage effectively and fairly, and sets a new benchmark for service, quality, sustainability, security, and good governance.
Danny Pinder, director of policy, Real Estate:UK said: “The launch of the new Build To Rent Alliance Code marks a milestone moment for the sector where we see a transformational shift towards greater verifiable accountability and a conscious desire to significantly exceed minimum regulatory standards.
“This not only reflects the ambition of BtR to be seen as the consumer destination of first choice, but also in playing a leading, industry-led role in driving up standards and outcomes across the whole sector.
“This new code is more than just a set of measures for technical compliance, it is about shaping the culture of the industry to deliver excellence for residents while also setting and leading high standards across the housing sector.”
Brendan Geraghty, chief executive, Association of Rental Living, added: “The launch of this new code comes at a pivotal time for the BtR sector as it continues to mature and attract more and more consumers who wish to experience the unique benefits BtR living provides, along with the quality of provision that the sector is now becoming known for.
“Central to this growth is the continuation of the upward trajectory in terms of quality and standards we have come to expect from the sector, which is why this code provides a framework that will not only effectively measure excellence, but ensure that the industry strives for it.”